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Air Lease Corporation (AL) provided an update on its aircraft investments, sales and significant financing activities occurring in the fourth quarter of 2024.
As of Dec. 31, 2024, Air Lease’s fleet included 489 owned aircraft and 60 managed aircraft. By the end of the fourth quarter of 2024, AL had commitments to purchase 269 aircraft from Boeing and Airbus for delivery through 2029.
The company had already delivered 18 new aircraft from its order book, which comprises eight Airbus A220s, three Airbus A321neos, two Airbus A330-900neos, two Boeing 737-8s and three Boeing 787-10s. It also sold 14 aircraft to third-party buyers.
Total aircraft investments in the fourth quarter of 2024 were almost $1.3 billion.
We would like to remind investors that steady growth in fleet and an increase in sales activity has been driving Air Lease’s top-line growth.
Given the aforementioned encouraging fleet numbers for the fourth quarter of 2024, we look forward to AL’s fourth-quarter 2024 earnings report, which is scheduled to be released on Feb. 13, after market close.
AL’s Zacks Rank and Price Performance
Currently, Air Lease carries a Zacks Rank #3 (Hold).
Shares of Air Lease have gained 16.6% over the past year against the 7.6% decline of the industry.
Image Source: Zacks Investment Research
Stocks to Consider
Investors interested in the Zacks Transportation sector may also consider American Airlines AAL and United Airlines UAL.
American Airlines currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AAL has an expected earnings growth rate of 16% for the current year. The company has an impressive earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in three of the trailing four quarters and missed once, delivering an average beat of 124.4%. Shares of AAL have risen 16.4% in the past year.
United Airlines currently carries a Zacks Rank #2 (Buy). UAL has an expected earnings growth rate of 1.3% for the current year.
The company has an encouraging track record with respect to the earnings surprise, having surpassed the Zacks Consensus Estimate in each of the trailing four quarters. The average beat is 26.9%. Shares of UAL have climbed 122.9% in the past year.
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